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Last Updated : Feb 22, 2019 08:51 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open lower; Jindal Steel, Bajaj Finance among 3 stocks to buy

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 19 points or 0.18 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Friday tracking muted trend seen in other Asian markets. The index closed 54 points higher at 10789 on Thursday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 19 points or 0.18 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.

Weak economic reports pressured US stocks on Thursday after the market’s recent run of gains, and a drop in healthcare shares added to the bearish momentum, said a Reuters report.

Close

Shares in Asia were flat in early trade on Friday following a fall on Wall Street, with a deteriorating global economic outlook outweighing more signs of progress in trade talks between China and the United States, it said.

The rupee skidded by 11 paise to close at 71.24 against the US dollar Thursday as rising oil prices and a strengthening greenback weighed on the market sentiment.

Stocks in news:

ING Mauritius Investments to further sell stake in Kotak Mahindra Bank

The government has asked state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to sell out 66 of their small oil and gas fields to private firms as it brought in a new policy to boost domestic production and cut imports, Petroleum Minister Dharmendra Pradhan said on Thursday.

Drug major Dr Reddy's Laboratories is recalling 2,770 bags (277 selling units) of epilepsy drug Levetiracetam Sodium Chloride injection in the US market, on account of a labelling error.

NIIT Technologies has extended its partnership with Microsoft Azure to accelerate its cloud lead transformation on February 21.

Technical Recommendations:

We spoke to IIFL and here’s what they have to recommend:

Jindal Steel: Buy| Target: Rs 166| Stop Loss: Rs 149.5| Upside 7%

Muthoot Finance: Buy| Target: Rs 580| Stop Loss: Rs 513| Upside 8.5%

Bajaj Finance: Buy| Target: Rs 2800| Stop Loss: Rs 2582.5| Upside 5.5%

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Feb 22, 2019 08:42 am
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